Fabrinet (NYSE:FN) Given Consensus Recommendation of "Hold" by Analysts

Shares of Fabrinet (NYSE:FN - Get Free Report) have earned a consensus recommendation of "Hold" from the seven research firms that are presently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $239.29.

FN has been the topic of several analyst reports. Needham & Company LLC restated a "buy" rating and set a $280.00 price objective on shares of Fabrinet in a report on Tuesday, May 6th. JPMorgan Chase & Co. lifted their target price on Fabrinet from $220.00 to $235.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Rosenblatt Securities boosted their price objective on Fabrinet from $230.00 to $250.00 and gave the company a "buy" rating in a research report on Tuesday, May 6th. B. Riley upgraded Fabrinet from a "sell" rating to a "neutral" rating and reduced their price objective for the company from $178.00 to $176.00 in a research report on Friday, April 4th. Finally, Fox Advisors started coverage on Fabrinet in a research report on Tuesday, February 18th. They set an "overweight" rating and a $270.00 price objective for the company.

Fabrinet Stock Up 1.5%

Shares of FN traded up $3.29 during trading hours on Monday, reaching $226.87. 105,215 shares of the company traded hands, compared to its average volume of 620,133. The stock has a market capitalization of $8.13 billion, a PE ratio of 25.28 and a beta of 0.95. Fabrinet has a fifty-two week low of $148.55 and a fifty-two week high of $281.79. The stock has a fifty day simple moving average of $202.36 and a 200 day simple moving average of $219.46.

Fabrinet (NYSE:FN - Get Free Report) last announced its earnings results on Monday, May 5th. The technology company reported $2.52 EPS for the quarter, beating the consensus estimate of $2.47 by $0.05. The business had revenue of $871.80 million for the quarter, compared to the consensus estimate of $857.12 million. Fabrinet had a return on equity of 18.48% and a net margin of 10.44%. The company's revenue was up 19.2% on a year-over-year basis. During the same period last year, the business posted $2.39 EPS. Research analysts predict that Fabrinet will post 9.4 EPS for the current fiscal year.

Insider Activity

In other news, Director Rollance E. Olson sold 2,500 shares of the company's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $223.98, for a total value of $559,950.00. Following the completion of the sale, the director now owns 23,201 shares in the company, valued at $5,196,559.98. This represents a 9.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.38% of the company's stock.

Institutional Trading of Fabrinet

Institutional investors have recently modified their holdings of the company. Banque Cantonale Vaudoise acquired a new stake in shares of Fabrinet in the first quarter valued at $29,000. Berbice Capital Management LLC acquired a new stake in shares of Fabrinet during the first quarter worth $30,000. Wayfinding Financial LLC acquired a new stake in shares of Fabrinet during the first quarter worth $30,000. Private Trust Co. NA raised its position in shares of Fabrinet by 44.3% during the first quarter. Private Trust Co. NA now owns 166 shares of the technology company's stock worth $33,000 after purchasing an additional 51 shares during the period. Finally, SBI Securities Co. Ltd. raised its position in shares of Fabrinet by 93.5% during the first quarter. SBI Securities Co. Ltd. now owns 180 shares of the technology company's stock worth $36,000 after purchasing an additional 87 shares during the period. Institutional investors and hedge funds own 97.38% of the company's stock.

Fabrinet Company Profile

Fabrinet provides optical packaging and precision optical, electro-mechanical, and electronic manufacturing services in North America, the Asia-Pacific, and Europe. The company offers a range of advanced optical and electro-mechanical capabilities in the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, advanced packaging, integration, final assembly, and testing.